For Sale

Listed by Aharon Cowen and Javyn Roundtree from Javyn Roundtree

Source: SmartMLS Connecticut #24155329

116 Old Foxon Road, East Haven, CT, 06513

$899,000

7
6
8
3364 sq. ft.
0.34 ac.

MultiFam

30+ days on the market

What's around 116 Old Foxon Road

About this property

A 6-unit multifamily offering strong in-place income plus immediate upside through lease-up. Current rents: Unit 1-$1,300, Unit 2-$1,550, Unit 3-$1,300, Unit 6-$1,375; Units 4 (1BR) and 5 (2BR) are empty. In-place gross: $5,525/mo with pro-forma potential up to ~$8,925/mo (market rent: Unit 4-$1,550 and Unit 5-$1,850). Located in a Class A neighborhood in the desirable Foxon area, close to I-95 & Route 1, shopping, dining, and minutes to downtown New Haven/Yale and East Haven beaches/parks. With lease-up alone, this can be positioned to achieve an 8-cap, making it an ideal value-add play with strong long-term fundamentals.

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